Bank of America may be considering a foray into a network of ATMs backed by blockchain technology, according to a newly filed patent published by the U.S. Patent and Trademark Office (USPTO).
The patent describes a cash-handling device that utilizes blockchains to “accelerate transaction speed and/or facilitate other types of transactions in addition to ATM transactions like cash withdrawals and deposits, such as gift registry transactions”.
Blockchain technology will also help in handling a large number of transactions as well, according to the published document.